1955-02-16 — Page 9

BOOK REVIEWS

By

WILLIAM SMYLY

ure

Ponder a map or twiddle a globe....there

few spots on Earth so likely to make one pause, or perhaps think, or dream, as the continent of South America,

Stretching

'ropieni from forme that are both wild and dangerous (and Inhabited will, by unknown tribes and mos unlikely

gingerly animola) down to the An'aretic, leads from one of the world's mater weharted and unknown places to be other.

From eks selle Pompe

3

omparte! welfare the wort: his ever *** 36 beehive or an

very'arinn

11

ord heap from Red Indiary mathipanttene followed by Spanish Rome Caballe bar- the Inquisi- burity that maker Hon pale and living sacr

kl re

like H ricamus Tits from the frt- tah pirgie

Excursions + Drike ard Roleigh upon the Spordih Main: from slavers and from the long and terrifying escape routes by which negro "inves erceived

heir British employ in the southern States and

West Indies to buite T DOW Hfe of their own in this stranest continent,

freem il hudo y molled ovt roles rial

anal pus and am alopept with emotions, price and more Spanish temperament l COMEN a * Co century of study Eataly ) is a mytery MBI

171

Il a dty that be ter honder about South Amming linya y been written by South An!- care themcelvet Je two books which have been published rea cently. Two British writere one from Yorie She ol 11 other from New Ze Jun 1, anevessfully seratsh the face as well as † have meets 11 done in a light book.

[

NEW YORK

STOCK MARKET

New York, Feb. 15.

of

A sharp, quiet well-off in the first few minutes trading capped an' oventful stock market session today in which special Isauca soared in response to special

news.

Word that General Electric has chloved the manufacture

of diamonds equing than of nature-long thugh! ก int- possibility for men-wag the

day's big news.

G. E. soared 4% poin z new high nt $55% and tela 3*, pools The

new". coming shortly after the market else albnulo'ed he entire list,

Consolíčutes

For De Beer Ming, world' leving pro- ducer of natural danomia, how ever, the renetien was differen! ''' stock was sold heavily 10 Loxton and tell around 2 points ver-the-counter ma kelih ri.

150

ឆ-

ANOTHER STAR

General Dynamics WBA other star. This mandfacturer ot atomic submarines and Convair Aircraft soured 111⁄2 pousta to a higa of $13) at one

tou

the

1 hnd the distinction, however, of touching off inte sell-off. Following emphafle company dealul of any merge? gal:

had which Leld the rise-Dynamics lost all

pout of its gain and

1912

เ

The market closed higher ons touched off r'alying elsewhere.

Out of n total 1,263 traded, lower. KUT-

"The Way the Wind Blows" (MacMillan's Overseas Library) by Howard Clewes la straight forward travelogue by a young mum with a the money tra burn and a little time to sperkli in South America

For the author of "The Long Memory" this new brok seema a little elamaily written. I get bored with his use of the first person---his

rather

THE CHINA MAIL, WEDNESDAY, FEBRUARY 16, 1955.

TRADE

and

COMMERCE

SECTION

U.K. COTTON CLOTH IMPORTS

Government Promise

To Keep A "Careful Watch"

London, Feb. 15.

British imports of cotton cloth from India increased from 16 million square yards in 1953 to 133 million yards last year. Imports from Japan went up over the same period from 38 million yards to 52 million yards.

Giving these figures to the House of Commons, Mr A. R. W. Low, Minister of State at the Board of Trade, said there was no evidence to In date that these imports had caused unemployment in Lancashire. fact, the latest figures showed that there were about four vacancies for every one unemployed in the textile industry.

HONGKONG STOCK EXCHANGE

064 closed higher, 375 kont

Turnover of 3,510,000 shares was well

ahead of yesterday's 2,950,000.

Aircrafts

Kond were

(From Our Correspondent)

Bistries done on the Hong Stock Exchange morning amounted to $907,520.70. Noon

und quotations morning's transactions:

BANKS

HK Bank

per-

079

4!r 50

forners throughout the session atai held some of the best clos- .Bg Kazi,

Aircraf wath announcement that it has won industry-wid: competition for | design of a new hellcopter for

the Army, ra

up 3 potns to $304.

Another big item of market news came after the close-a two-for-one spilt and incrense

Steel. for Republle Other steels da little. |-

New York Stock Ex-

Reif convelous presence

at tay elbow. But the journey in-seen

The by an observant eye. There is change band volume was $3,-

plenty of Information, and a 020,000. good supply of amusing

Anecdote,

☆ ☆

"Shepherd" by William

Harrap (Grote G

Lake.

Co., Ltd. 12a Gd)

hand,

&

DOW JONES AVERAGES

Daw-Jones closing averages S reat today were us

on Wall on the other

As an authentic novel-

sufficiently authentle,

ви

even for children.

worked on

n

the period he describes. And,

INSURANCES

Doing

Jawaband

UCKS, EN

K Wharf Duck

this

the

Imports from Japan, he salt cotton surpluses to be unloaded were almost wholly of grey cloth In Britain was causing "depres- for re-export

and after processing. sion

anxiety" graye throughout Lancashire. Those from Indhu were aloc vi-

grey Most

cloth. No wholly exact figures were avaliable of

the amount of this cloth re exported after

processing, but It was estimated to be about a half.

STAGGERING IMPORTS

Mr Low said that under the terms of the Anglo-Indian trade Britain admitted agreement Indian cotton cloth free of duty. The Board of Trade was keep- ing a careful watch to see what proportion of these imports were retained in the home market,

Mr W. ^ Burke, Labar | he went on. If the position be Member for Burnley, Lancashire, came too threatening, some safe- sakl these "staggering" imports | guneding

ection might be

Anglo-Rumanian Tea Prices Drop

Debt Talks

London, Feb. 15. Representatives. of the Rumanian Government, tha British Treasury and the Board of Tradë have bigua trado and financlni tālks here.

The talks involve debts of about £100 million sterling

British nationals, going back to lie first world

Lo

WET.

MUTILO

The majority of the claims against Rumania fa understood to arise from the confiscation and eR- propriation of Brfilah interests in the Rumanian Industry under nationalisation.

لله

The talks are expected to be complex and protracted. -Reuter.

RUBBER

SECURITY

STOCKPILE

had meant for his constituency necessary. that two large mills closed down

Washington, Feb. 15. In January, one large mill closed

Informed sources said today down

and last weeks,

be that the Government's General were on short time. The Govern- Exchequer, pointerci

Services Administration (GSA) allowing Britain allowed Indian importe will announce next Monday sume Inactivity

ment's

B 2130

500 / 28 20 Provident (0) 15 70 15 60 2000 4 15.76 Wheelock

7.20 7% 2000

LAND, ETC

lik tutel

13 70 14.80 500 14.80

2000

1500 16.70

500 10.80

07 076 100

200

Canadian

former Mr Hugh Galtskell,

of Chancellor others Socialist

out that

Bank Rate

Reduced

to enter duty-free while India novera restrictions on Imposed textil: exports from Britain.

APPEARED UNFAIR

But No

Thanks

To Kotelawala

London, Feb. 15. Opening bids at the regular tea auction in the Great Auditorium at Plantation House yesterday were a half penny to 'one and a half pence a pound cheaper but a buyer said "this has nothing whatever to do with Sir John Kotelawala.”

Sir John Kotelawala, Prime Minister of Ceylon, said in London last Thursday that tea prices in Britain were “ridiculous."

Sir John, now visiting Ger- many,

Tea

That brought forth a challenge from the Trades Committee to Sir John on his price quotations.

wore prices

Because sparing bad maintained Ceylon | people in nations other ihun exported tea for three or four Britain were beginning to drink shillings a pound, Ten sells for more and more tea. They insel, about "seven shillings a pound however, tha the British "house- In Britain today.

wife sull pays less for ten than housewives in any other country.

The Commitee said Britain would buy every ounce of ten available in Ceylon of three to four shillings a pound. It sald Sir John was not taking into consideration his own country's export duty of one shilling t pence a pound,

COMMONS STORM

But while the auctioneers' hammers pounded at the Great Auditorium members of

the

J

House of Commons set up storm about ten prices paid by the housewife.

Labour opposition spokesmen demanded that the Government restore price control and subsidy on tea.

the

Better known quality brands of tea is sold for about right ahllings four · penen 4 pound today.

No Ceylon tea was on sale but North Indign, Afriend and Indonesian ten kaime under the hammer-United, Press,

New York Foreign Exchange

Canada

New York, Feb. 19.

England-unofficial

30-day futures. 90-day futures..

South Africa

changes in its rotation pro- grammo for the National Rubber Security stockpile,

Officials declined to reveal the but industry Bources Mr Low agreed that this ap-changes peared unfair. He had raised said the changes wero "minor" the question during his recent and should "have no effect ou Dr Charles Hill, Parliament-

ary Secretary for the Ministry Australia visit to India, and the Indian the market,” Government had repeated their

of Food, resisted the demands New Zealand GSA, at a meeting with its and said, "The price of tea has Holland... assurance that they would con-

advisory

Just increased because World de- Switzerland Aroup sider the rate duty on British industry

in the light of actual October 20, set

special mand excely world supply." up a textiles

Britain arter- Tea authorities commitee to Imports since they liberalised technical Ottawa, Feb. 14.

whether But ming

the

tho Govern- | have maintained all along short-term the quota for these goods.

ment should continue to stock- available to WDS banks no evidence

pile certain grades or re-milled

Bave rubber which

declined In worth in recent years,

Monday's

announcement be based expected devision

regarding rubber. The expectation is that the GSA will announce Ita

An increpso in 1000 21.70 loans -0 chartered 1000 2180 prempted the Bank of Canada o them at the moment,

cut its "bank rate of interest It into line yesterday to bring with

opch the on market

charges

The role of Interest was re-

duced to 1% per cent from the two per cent charge established

cul

in 1950. 500 333

Bank officials sald the was designed to get back into lipo with the going rates for

which have been money

IK Land

Humphreys Tri

2313

...... 21.76

21.80

The American chane volume shares.

Stock

Was

Ex- 1,100,000

C

Visuma Ferry 182 104 300 182 300 103 100+ 183 Light (0) 1100 11.80 399 @ 17.00 1000 17.60

300 # 12.76

200

17.60

1500

174

C Light IN) 14,00 14.70

100

14.00

14 70

14,00

Electric

375%

30 1000 374;

15030

500 30

$11.95

500

37

148.52

Macau Elec

03.77

152,50 100.28

Telephone INDUSTRIALS

Cemrot

12 39

324

33 2000 33

44% 442 GOO or 449%

200 44% 500 43

Feb. 15

Rope STORES. ET

Dalry

(N)

21AL

COTTONS

7234

2011

Textile Corp. MISCELLANEOUS

Yangtze

American Metal

All ed

American Smelting American Tel 4 Tel

American Tobacco

follows:

1 think.

30 industrimla

The author

20 Falls

shero

farm during

15 utilities

65 Klock

40 bonds

although

beneft

who

an

the

of

fictitious 0 mecis and Imaginary

hus

the hero marries heroine in the book

Alden Inc. Acy

the last 40

pages.

la mostly a fairly detailed nc- count of life on a sheep staion # the ley end of the continent.

As an introduction to South Ameriea. I found it no good na anything I have read. And as a story. It kept my attention from the beginning right up The middle of the rather unconvincing romance,

10

Somehow. I lost interest then. There did not seem 10 be much romance left once we Jeft The

of South shores America.

As Howard Clewes remarks,

a hearty slum,

it la only

no escape, that drives a man

to write like a Dickens.

Atherica offers 'te

to write-although tion seems to be so much matertni.

So I suppose,

Comin. future price index 105.07

YESTERDAY'S PRICES

Allied Chemicala

Allis Chalmers

American Airline

Anaconda Cupper Armico Steel Armour

Baltimore & Ohio

Chile

General Foods

18

23.10 23.40 2000 m 23 20

21%

in

effect for the last six monthsi, The reducion was not expected effect to have

imuned.e any on the national economy.

The bank rate is the mini- mum charge a which the Ceo- 2521.30, tral Bank loans money for short periods to chartered banks on the security

of Treasury bills and short-term Government bonds.

0.40 4.00 1000 12 0,40

44

1500 @ 0

Singapore

Stock Market|

Singapore, Feb. 16. Brokers todný quoted to fol-

Feb. 10 reb. 15

Me Low la due to meet cotton industry, leaders in Manchester next week. The high rate of Imports from Japan and India will be among the subjects dia- cussed.

World Cotton

Markets

New York, Feb. 15. Cotton futures sce-sawed nar-

rowly in quiet dealings today,

Prices armed after the open ing as hedging and liquidation were absorbed by trade buying, and held at a standstill un il late

The rate was rarely charged in the day when some further in former years because shorellquidation cased most prices. Term loans were seldom ob talned from the Bonk Canada,—United Press.

of

World Rubber

Markets

L

New York, Feb. 15. Rubber futures today closed 110 to 130 points lower with sales of 155 contracts.

to

La

on the ro-milled

determination to suspend buying at hand some of this re-milled rubber-United Press.

New York Sugar Market

New York, Feb. 15. World No. 4 sugar futures to- two dzy closed unchanged to points higher with sales of 360

contracts.

Domestic No. 8 sugar futures

of 213

points lower with sales

od one point higher to two contracts. At the close, the list ruled

Heavy selling in world futures five to seven points lower. With

the issuance attributed to all contracts but far-off

of 06 March transferabit finishing on their low for the notices and to the news that day.

The market opened off 3 Cuba had sold sugar to Russla

а

July

11:5

to up 3 points. New Orleans at about 12 points under the fututes finished two to six points going world spot price. lower.

Dealers reported some further switching. from nearby March to

Domestic futures showed little change.

Future closings:

the later months in anticipation | Contract No. 4 (world)

of the first notice Feb. 21. March Secretary of Agriculture Mr May

July

Beason's statement last night Ju

that he would not permit an spot-cents per in, fab Cuba) 5,18 acreage increase had a steadying Open interest: 3,308 contracts effect on the far off months.

Prices closed today as follows: My

In

EVERETT

Peru...

Uruguay

1.78 6/32

2.77 31/32

2,23

2.T7 7/10

2.78 11/16

2037

2333

OZZA

1237

Others сто unchanged/United Press

LINES

EVERETT ORIENT LINE

Fast regular · freight passenger

service

to Korea. Japan,

refrigerator

J

Chittagong.

Philippines, Indo-Chins, Stam, Malaya,

Rangoon;

Calcutta and

"NOREVERETT"

Arrives Salls

Feb. 19 from Singapore. Feb. 20

for Kobe

"REBEVERETT"

Arrives Sails

& Yokohama.

Penang,

Feb. 25 from Manila. Feb. 28 for Singapore,

Rangoon, Calcutta Chittagong.

(Avespiing cargo for transhipanunt Kobe/Pusan and Kobe/Okinawa)

EVERETT

STAR LINE

Fast regular freight — refrigerator

service. To

Japan, Malaya, Colombo, Bombay, Karachi and

Persian Gull.

(Kubject to inducement for direct call Kozen).

"STAR BETELGEUSE“

Arrives

Sails

1,05

LAO

Belwin-tim-inmitton

41

Berdix Aviation Corp.

Benguet Cans,

Bethlehem Steel

Boeing Airplane

Canadian Pucille Railway

Come (J.) Co

Chase National Bank

Copper

Chrysor Mators

70

Commercial Credit

***

lowing stock prices:

Commonwealth Elec.

4031

Consolidated Edison

Duji

Closing Opening

and

Continental Steet

201

Brth Borneo Petro-

Corn Products

875%

leum Syndicate

32/- 32/3

South

Crane Co......

402

Consolidated

Tin

Cuban American Sugar

153)

Smelters, Ordinary 30/0d

30/9d

provoca-

Curtis Wright

21%

Fraser and Newva Ltd.,

Contract No.

there

Dupont de Nemours

ITER

Ordinary Lanie

01.07

Eastman Kedok

Fraser and Neave Lid,

General Electric

841

1 cm. pref..

$0.50

$1.97

$4,50

70-34

Geremal Malon

0412

hal Bank Corpora-

Gillette Safety Razor

71

tion (Colonial Re

Goodrich (B. F.) Co.

64

glater)

1110 #11/10

Goodyear Tire & Rubber

Malayan Breweries..

14:00

$4.00

Homstake Mining Co.

4716

Raffles Hotel

$2,70

2.70

The market moved up slight- ly after the opening following sharp decline yesterday, but started to dip in the afternoon and closed on the lows of the day.

Spot Mar

March

35,001 July 54.57-37 Bept.

34.71 Nov.

May

34.95-20

Oct.

Dec.

34.00

BAB

B'ngapore Cold Stor

Mar.

33.00

370

31.03

Open interest: 3,545 contracts,

31.03

May

International Harvester International Nickel

South British Bowser-

profil.

July

35.18

-United Press,

ACH DAY

$23.25

$20.23

International Paper

Stifts Trading

* 10 $25.10

NEW ORLEANS·

International Tel à Tel

2514

Straits Steamship.

$10.00

$16.00

John-Mattville Co.

United

Engineer

Kemecott Copper

1114%

Ordinary in

+

Lockheed Alstraft

Wearne Brothers

$283. KLA

$13.70 $13.70

Prices of fuhrtes closed today

Leows Incorp.

Hangkeng Tin

816

Lone Star Cement Co.

Petaling Tin

$3,82) $3.421

Manesota Mang

March May July Sept.

25.20 34.40-50 33,00 30,00

as follows:

Spot

34.18

34.89

34.71-73

May

34.06.

Montgomery Ward

↑ with div.

Dec.

32.00

-China Mail Special.

Mar.

32 00

34.97-06

30.01

AMSTERDAM ·

Mari May July

35,30 55.10-

WAS

| WHORI NO. 2," Tod

Spot

we

wani great writing, wo need not ex-

pect anything

very

exelling

cut of South America thi there

is nothing very exciting left to International Business

write about.

nen, such books as, these, will surve,

Germans Aid

Pakistan Industries

Bonn, Feb, 15.

A group of German pro-

ductivity experts appointed by

the Bonn Government will help Pakistan

to reorganizo her

textile industries,

Machine

Neticent Ch Register

Nation" D'et'ler

Nation Lead.....

New York Central

Ole Elevator

Pacific Gas & Electric" Pacific Western Oil Pan Ameriern Airways Paramount Pictures Philips Petroleum

Pittsburgh Plate dians Radio Corporation Bro Motor Republic, Meel

Shell Oil Co. was sinclair Oil

announced here to Borony Vroum

Houthern Tilway (Com))" Mandard · Brende toe group has beets formmodandard Oil of Cohorta

in response to a request from andeed of Indiang

the Pikleten

government.

I

Od of New Flowey consists of engineers, technicians, mudsigter Packard

and a statistica specialist,

Tekn

The experts will investigate son Pakistan's machine installation, Tolon

labour: organisation, supplies at

Unter

3.

raw materials and marketing of y falshed products.

Two of the experts, Dr Hudoir Thichs and Mr. Wibim - Über» hards, have already beguis work,.

cirn-dly Cum-coplial imur,

London Foreign Exchange

New York kontrem Amsterdiens

Paris

In Chibere.

London, Feb. 14,

--2.78 3/16-3.78 8/18 1-173 2/10 19.04

Some market men attributed the 'docline to further fairing and lower London cables, Spot Rss were quated at 35% cents a pound. Futures:

The market

steady. Prices clonoch today in uilders per kikigrum, CIF

March s

follows:

No. 1 rubber

No. 3 rubber No. 1 crepe

No. 2 rubber

203.30

March

May

Spot-(cents per lb. "EF_NV_ex-duty)

།

Chicago Grain Prices

Chisago Fob, 15. Prices per bushel in cents:

Closing prices

Mar. 2231% (33) 222014 (1) May

LIVERPOOL

American July. Future closings, "Midling 18/10 Inch, in penco Sept. 2.50 buyers per lb. wore as follows: 290° buyerstarch/April

2.33 Unyare |-4).

The Singapore rubber, prices. were not received.

LONDON

The market was steadier. No 1 Spot Ras quoted at 30%, peneg per lb. Price:

Exchange Rates Not

Builnej" was done, in the”. fogal moficial s'exchange. market

PETELIJA, AS IDe following rates:-

Oct/Nov

Corn, No. 2, yellow

24.14

July

Official vetus for spot costossa | Bapt. śricluded: MAKANAN ING

Mar

·Aźbaescim midiklisig: 15/1BU... Americans 'd. Li mídalíng 16th

Mexican maidčilent

-inch - - (54)

BÃO PAULO.

-32,30

|s431| |Soybeana No. 2, yello

Arrives Salls

Feb, 20 from Singapore.

Feb, 20 for Kobe & Yokohama,

Feb. 20 from Japan......

Feb. 27 for Singapore, Port Swel- tenham, Madras, Colombo, Bombay, Karachi, Basrat, Kuwalt & Bahrein, PASSENGER ACCOMMODATION) (Accepting cargo for transhipment Kobe/Puran and Hobe/Okinawa)

(LIMITED

EVERETT STEAMSHIP CORPORATION S/A (mcorporated in the Repubile of Panama

with Limited Liability). Chinese Department: Telephone 28293. Queen's' Building, Telephone -- 31206

MARITIMES

MESSAGERIES

[PO. Box 533 Queen" Building VRTWIN 25601) FAST. PASSENGER/FREIGHT SERVICE A CAMBODGE" VIETNAM??

sailing Feb, 26th: sailin

8th

AST

CHT:SERV

"DONAT "ANADYR"